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Upromise World Mastercard review: A good option for college savers, but not the best for rewards
The Upromise® World Mastercard® offers a unique rewards program designed to encourage cardholders to save for college. However, even its best rewards rate doesn't stack up well against other top cash-back credit cards. Here's what to consider before you apply.
Find out more about today’s best cash-back credit cards
- Annual fee$0
- Welcome offerEarn $100 bonus cash back rewards after spending $500 on purchases in the first 90 days
- Introductory APR0% intro APR on purchases and balance transfers for the first 15 months (19.74% to 29.99% variable APR after that)
- Purchase APR19.74% - 29.99% variable
- Rewards rate
- Earn 1.529% cash back rewards when linked to an eligible College Savings Plan (or 1.25% if your account is not linked to a College Savings Plan)
- Get up to $250 in cash back rewards per calendar year on eligible gift card purchases at MyGiftCardsPlus.com (powered by Upromise)
- Round up your purchases to the nearest dollar (based on the limit you set)
- Benefits
- No foreign transaction fees
- $0 fraud liability protection
- Free online access to your FICO® Credit Score
If you’re looking for a great balance transfer offer, check out today’s best balance transfer credit cards
Additional benefits
The card doesn't charge foreign transaction fees, making it a decent choice for people who plan to travel abroad. You'll also get free access to your FICO credit score.
How to earn rewards
There are a few different ways you can earn rewards with the Upromise Mastercard. For starters, the card offers 1.529% back when you link an eligible college savings plan to your Upromise account. Check the list of eligible plans to find out if yours qualifies. While that's not the best credit card rewards rate available, it's more than some other cards with flat cash-back rewards on every purchase.
If you don't have an eligible college savings plan to link to your Upromise account, you'll earn just 1.25% back, which falls below the 1.5% minimum that you should expect from a flat-rate cash-back credit card.
You can also earn cash-back rewards by buying gift cards through MyGiftCardsPlus.com, up to $250 per calendar year. You'll earn a $10 bonus when you spend $50 to $149.99 on eligible gift cards in a month or $20 when you spend $150 or more in a month between January and October (this tier jumps to $25 in November and December). Register for an account with MyGiftCardsPlus.com using the same email address as you use for your Upromise account to be eligible.
Finally, you can round up your purchases to the nearest dollar, converting the difference to cash rewards. For example, if you make a purchase for $14.52, the card will round up the purchase amount to $15. At the end of your billing cycle, the total number of rounded up cents will count as a purchase on your statement and earn cash back rewards. You can also set a limit of how much you want to round up per billing cycle.
Related: How college students can use credit cards responsibly
How to redeem rewards
The rewards you earn will be added to your Upromise account. From there, you'll get automatic transfers of your rewards to your eligible linked account each month. Eligible accounts include 529 college savings plans, checking accounts and bank accounts. Just remember that your linked account should be an eligible college savings account to earn the full 1.529% rewards.
Alternatively, you can link your student loan account and use your rewards to pay down your balance each month.
Who is the Upromise World Mastercard best for?
The Upromise World Mastercard may be worth considering if you want to use your credit card rewards to save for college. While you can do this on your own with other cash-back credit cards, Upromise makes it easy to set up automatic transfers to a linked 529 plan.
You may also consider the card if you like the idea of rounding up purchases to compound your rewards, helping you accelerate your rewards earnings each billing cycle.
Upromise World Mastercard pros
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Simple rewards structure: While the card offers two separate rewards rates based on your eligibility, you don't have to worry about keeping track of multiple rewards rates on different spending categories.
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Extra ways to earn more rewards: You can get as much as $250 back on gift card purchases each year through MyGiftCardPlus.com, and you can round up your purchases to boost your rewards each month.
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No annual fee: You don't need to figure out whether the card is worth it based on a yearly cost to use it.
Upromise World Mastercard cons
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Other cards offer better rewards: Even with the 1.529% rewards rate, you can get a better rate on all of your purchases with other top cash-back credit cards.
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New-cardholder incentives are subpar: The card's $100 welcome bonus is effectively a 20% return on the spending requirement to earn it, but if you're looking for more upfront value, consider another card. Also, while the Upromise Mastercard offers a 0% APR on balance transfers, many top cash-back credit cards offer a 0% APR promotion on both new purchases and balance transfers.
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You need to join the Upromise program to maximize rewards: If you're already a Upromise member, this requirement may not be an issue. But if you want to maximize your cash-back rewards with as little effort as possible, this card may not be the best fit.
Read more: The best rewards credit cards
Where can you use Upromise World Mastercard?
As a Mastercard credit card, you can use the Upromise card just about anywhere within the U.S. and abroad.
How to make a Upromise World Mastercard payment
The Upromise World Mastercard is issued by Barclays US, so you’ll make your payments using your Barclays account.
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Online: You can log in to your online account or use the Barclays US mobile app to pay your bill using a linked bank account.
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Phone: Call 1-877-523-0478 to make a payment.
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Mail: You can mail a check or money order to the address listed on your statement.
Upromise World Mastercard customer service info
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Customer service availability: Phone 24/7
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Phone number: 866-383-8192 for Upromise Mastercard servicing or 877-523-0478 for general inquiries
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Customer service email: Barclays doesn't offer email support, but you can connect to a representative on X (formerly Twitter) @AskBarclaysUS.
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Secure messaging: Log into your online account to send a secure message to a representative.
Alternative cards to consider
If you're not sure whether the Upromise Mastercard is the right fit or you want to compare other options before you apply, here are some to consider.
- Annual fee$0 intro annual fee for the first year, then $95.
- Welcome offerEarn a $250 statement credit after spending $3,000 in eligible purchases in the first 6 months
- Introductory Purchases APR0% on purchases for 12 months
- Ongoing Purchases APR18.49%-29.49% Variable
- Introductory Balance Transfer APR0% on balance transfers for 12 months
- Ongoing Balance Transfer APR18.49%-29.49% Variable
- Rewards rate
- 6% cash back at U.S. supermarkets (on up to $6,000 in purchases annually, then earn 1%)
- 6% cash back on select U.S. streaming subscriptions
- 3% cash back on transit and U.S. gas stations
- 1% cash back on all other purchases
- *Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout
- Benefits
- Generous intro APR on purchases and balance transfers
- Receive a monthly statement credit of $7 when you spend $9.99 or more each month on an auto-renewing Disney Bundle subscription (valid only at Disney Plus.com, Hulu.com or Plus.espn.com in the U.S.)
- Enjoy $0 intro plan fees for the first 12 months when you use Plan It® to split up large purchases into monthly installments
Why we like it: The Blue Cash Preferred Card offers an impressive 6% cash back on select U.S. streaming subscriptions and on up to $6,000 spent at U.S. supermarkets each year (then 1%), 3% cash back on transit and at U.S. gas stations, and 1% back on everything else. Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
As a new Blue Cash Preferred cardholder, you can earn $250 back when you spend $3,000 in the first six months. You'll also get a 0% intro APR on new purchases and balance transfers. The card charges an introductory $0 annual fee the first year, then $95 annually after that (see rates and fees). However, you can offset a good chunk of that fee with up to $84 each year in statement credits ($7 monthly) when you use your card to pay for an eligible auto-renewing Disney Bundle subscription. Valid only at DisneyPlus.com, Hulu.com, or Plus.espn.com in the U.S. (enrollment required; terms apply).
Read our full review of the Blue Cash Preferred Card from American Express
- Annual fee$0
- Welcome offerEarn a $200 cash bonus after spending $500 within the first 3 months
- Introductory APR0% intro APR on purchases and balance transfers for 15 months, then variable 19.74% - 29.74% APR
- Purchase APR19.74% - 29.74% variable
- Rewards rate
- 5% cash back on hotels and rental cars booked through Capital One Travel
- 1.5% cash back on all other purchases
- Benefits
- 0% intro APR on purchases and balance transfers for the first 15 months
- No foreign transaction fees
Why we like it: The Capital One Quicksilver Cash Rewards Credit Card can be a good fit if you want a decent rewards rate with easy redemptions. The Capital One Quicksilver card offers a flat 1.5% cash back on every purchase and a boosted 5% cash back on hotels and rental cars booked through Capital One Travel. You'll also get a $200 bonus when you spend $500 in the first three months and a 0% APR promotion on new purchases and balance transfers. The card has no annual fee.
Read our full Capital One Quicksilver Cash Rewards Credit Card review
- Annual fee$0
- Welcome offerEarn $250 cash back after spending $500 on purchases in the first 3 months
- Introductory APR0% intro APR on purchases and balance transfers for 15 months, then variable 19.74% - 29.74% APR
- Purchase APR19.74% - 29.74% variable
- Rewards rate
- 8% cash back on Capital One Entertainment purchases
- 5% cash back on hotels and rental cars booked through Capital One Travel
- 3% cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart and Target)
- 1% cash back on all other purchases
- Benefits
- Get a 0% APR on purchases and balance transfers for the first 15 months
- No foreign transaction fees
Why we like it: With the Capital One Savor Cash Rewards Credit Card, you can maximize your rewards on a handful of everyday spending categories. In particular, the card offers 8% cash back on Capital One Entertainment purchases; 5% back on hotels and rental cars booked through Capital One Travel; 3% back on dining, other entertainment, popular streaming services, and grocery store (not including Target and Walmart); and 1% back on everything else.
In addition to everyday rewards, you'll earn a one-time $250 cash bonus when you spend $500 in the first three months. The Capital One Savor card also offers an introductory 0% APR on new purchases and balance transfers and does not charge an annual fee.
Read our full Capital One Savor Cash Rewards Credit Card review
This article was edited by Kendall Little
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